New Delhi: The International Finance Corporation (IFC), the World Bank's private investment arm, has committed $100 million (about ₹885 crore) to private equity firm Everstone Capital, showed details on the IFC website.
About $60 million of the fund infusion is earmarked for Everstone's fifth fund, which has a target to raise up to $800 million. The remainder will be for co-investments by IFC and Everstone.
Singapore-headquartered Everstone Capital has funds under management of $8 billion. It invests in mid-market companies in healthcare, pharmaceutical, tech and business services, consumer, financial services, and industrial sectors.
"From supporting our private equity platforms to investing in sustainable infrastructure, IFC has consistently engaged as both a capital provider and a strategic partner," said Sameer Sain, co-founder and CEO, Everstone Group, in a separate statement. IFC recently co-invested with Everstone Capital in Delhi-based Wingify, a software-as-a-service (SaaS) provider.
About $60 million of the fund infusion is earmarked for Everstone's fifth fund, which has a target to raise up to $800 million. The remainder will be for co-investments by IFC and Everstone.
Singapore-headquartered Everstone Capital has funds under management of $8 billion. It invests in mid-market companies in healthcare, pharmaceutical, tech and business services, consumer, financial services, and industrial sectors.
"From supporting our private equity platforms to investing in sustainable infrastructure, IFC has consistently engaged as both a capital provider and a strategic partner," said Sameer Sain, co-founder and CEO, Everstone Group, in a separate statement. IFC recently co-invested with Everstone Capital in Delhi-based Wingify, a software-as-a-service (SaaS) provider.
